US markets fell overnight, with the Dow down 1.81% as two Fed Officials called for continued interest rate increases off the back of weak retail sales data showing consumers are retrenching but still exceeded estimates.

The Dow Jones closed down 614 points (-1.81%). At best it was up 106 points, at worst it was down 641 points. The NASDAQ declined 1.24%, as rate-sensitive sectors declined, Tesla down 2.06% Amazon down 0.61%, and Microsoft down 1.89%. The S&P 500 fell 1.56%. In Europe, STOXX 600 +0.23%, FTSE -0.26%, CAC +0.08%, and DAX -0.03%. SPI Futures are down 31 points.

HEADLINES 

• BOJ has markets bracing for more bond, FX turmoil as shift seen inevitable.
• Wall St closes lower after weak data, hawkish Fed comments.
• Bed Bath & Beyond looks for buyer ahead of potential bankruptcy filing – CNBC.
• Oil eases 1% as U.S. recession worries offset China recovery hopes.
• U.S. dollar tumbles after weak data; yen flat as BOJ impact fades.
• China reports big jump in foreign capital inflows on reopening bets.
• Yields drop as retail sales miss expectations.
• Pound Flirts With Seven-Month High as Growth Fears Hamper Dollar.
• Gold Slides as Hotter US Inflation Keeps Hawkish Fed on Track.
• Chinese Travel Rebound May Take Months Amid Hurdles to Flights.

Catch up on the latest news with Henry Jennings’ Pre-Market Podcast.

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.